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    BUSINESS

    HDFC Bank gets RBI approval to raise stake in IndusInd Bank to 9.5 per cent

    HDFC Bank has received RBI approval to raise its stake in IndusInd Bank up to 9.5 per cent. The clearance is subject to compliance with banking, securities and foreign exchange regulations, and bars board representation New Delhi: HDFC Bank has got the Reserve Bank’s nod to hike its stake in another private sector lender, IndusInd Bank, up to 9.5 per cent. “We would like to inform you that the Reserve Bank of India (RBI) vide its letter dated December 15, 2025, has accorded its approval to HDFC Bank (applicant) to acquire ‘aggregate holding’ of up to 9.50 per cent of the paid-up share capital or voting rights in IndusInd Bank,” IndusInd Bank said in a regulatory filing. The RBI approval has been granted with reference to the application made by HDFC Bank, it said. “The approval granted by RBI is subject to compliance with the relevant provisions of the Banking Regulation…
    BUSINESS

    Unemployment rate falls to seven-month low of 4.7 per cent in November

    India’s unemployment rate fell to a seven-month low of 4.7 per cent in November 2025, driven by stronger rural employment and rising female participation, signalling improving labour market conditions despite urban joblessness remaining higher New Delhi: Unemployment Rate (UR) for persons aged 15 years and above declined to a record low of 4.7 per cent in November 2025, compared to 5.2 per cent in the previous month of October 2025. The UR among persons aged 15 and above decreased to 4.7 per cent in November 2025, the lowest level since April 2025, according to the Ministry of Statistics and Programme Implementation (MoSPI). The Ministry further stated that in November 2025, the rural UR fell to a new low of 3.9 per cent, while the urban UR decreased to 6.5 per cent, matching its previous lowest level recorded in April 2025. The joblessness rate was 5.1 per cent in April 2025. According…
    BUSINESS

    India seeks WTO consultations with EU over ferro-alloy import curbs

    India has sought consultations with the European Union at the WTO over safeguard measures imposing import quotas on certain ferro-alloy elements. New Delhi said the curbs would impact Indian exports, even as India and the EU negotiate a free trade agreement New Delhi: India has sought consultations with the European Union under the World Trade Organisation’s (WTO) safeguard agreement over the EU’s decision to impose import quotas on certain ferro-alloy elements, used in the iron and steel industry. According to a communication circulated by the World Trade Organisation (WTO), India has a major trade interest in the export of these elements. The imposition of duties under the safeguard measures over a certain quota will impact exports of these items from India to the EU. The measures will be in place for three years. “As a member having a substantial trade interest in the export of products concerned, India hereby requests consultations with the…
    BUSINESS

    Stock markets decline in early trade dragged by foreign fund outflows, weak global trends

    Indian equities opened lower as Sensex and Nifty fell amid persistent foreign fund outflows, weak global cues and risk-off sentiment. Asian and US markets declined, while select stocks gained. FIIs sold, DIIs supported, limiting deeper downside during early Tuesday trade Mumbai: Benchmark indices Sensex and Nifty declined in early trade on Tuesday as persistent foreign fund outflows and weak global market trends dented investors’ sentiment. The 30-share BSE Sensex declined 363.92 points to 84,849.44 during initial trade. The 50-share NSE Nifty dropped 106.65 points to 25,920.65. From the Sensex firms, Eternal, Axis Bank, HCL Tech, Infosys, Tata Steel, and Bharat Electronics were among the major laggards. However, Bharti Airtel, Asian Paints, Tata Motors Passenger Vehicles, and Titan were among the gainers. In Asian markets, South Korea’s Kospi, Japan’s Nikkei 225 index, Shanghai’s SSE Composite index, and Hong Kong’s Hang Seng index quoted lower. US markets ended in negative territory on Monday.…
    BUSINESS

    With $600 bn net worth, Musk moves closer to becoming world’s first trillionaire

    Elon Musk has become the first person to cross a $600 billion net worth, driven by rising valuations of SpaceX, Tesla and xAI. The billionaire is now widely seen as moving towards becoming the world’s first trillionaire. New Delhi: Tesla and SpaceX CEO Elon Musk has taken another step towards becoming the world’s first trillionaire, according to reports. With his company SpaceX reportedly launching a tender offer, valuing the firm at $800 billion, Musk’s net worth has surged by $168 billion to an estimated $677 billion, according to reports. Musk is now the first person ever worth $600 billion or more, reports Forbes. SpaceX is aiming for an initial public offering (IPO) next year that may value the firm at around $1.5 trillion. Musk’s 12 per cent stake in electric vehicle maker Tesla is worth $197 billion, excluding stock options. Moreover, Musk’s xAI Holdings is reportedly in talks to raise new…
    BUSINESS

    Equity markets decline in early trade dragged by services, realty stocks, FII outflows

    Sensex and Nifty fell in early trade due to losses in services and  realty stocks and continued FII outflows. Despite strong economic indicators and expected earnings growth, volatility persists amid rupee depreciation and global cues ahead of key US inflation and Fed meetings Mumbai: Equity benchmark indices Sensex and Nifty declined in early trade on Monday weighed down by losses in services and realty stocks and sustained foreign fund outflows. The 30-share BSE Sensex dropped 316.52 points, or 0.37 per cent, to 85,395.85 in the morning trade. The 50-share NSE Nifty declined by 106.70 points, or 0.41 per cent, to 26,079.75. From the Sensex firms, Bajaj Finance, Bharat Electronics Ltd, Axis Bank, Bajaj Finserv, Maruti Suzuki India, Asian Paints, Mahindra & Mahindra, NTPC, ICICI Bank, PowerGrid, Hindustan Unilever and Larsen & Toubro were the laggards. However, Tech Mahindra, Infosys, Eternal, Reliance Industries, Tata Motors Passenger Vehicles, Tata Consultancy Services, Trent, HCL Technologies and…
    BUSINESS

    Rupee falls 16 paise to 90.11 against US dollar in early trade

    The rupee weakened to 90.11 per US dollar amid high crude prices and persistent FPI outflows. Strong corporate dollar demand, RBI’s recent rate cut impact, and anticipation of the Fed’s policy decision added pressure, while India–US trade talks begin December 10 Mumbai: The rupee depreciated 16 paise to 90.11 against the US dollar in early trade on Monday, weighed down by elevated crude oil prices and persistent foreign fund outflows. Forex traders said strong dollar demand from corporates, importers and foreign portfolio investors pressurised the rupee. At the interbank foreign exchange, the rupee opened at 90.07 against the US dollar then dropped to 90.11, down 16 paise from its previous close. On Friday, the rupee settled at 89.95 against the US dollar, after the Reserve Bank of India cut the key policy interest rate for the first time in six months. Forex traders said investors’ focus has now shifted to the Fed’s…
    BUSINESS

    UIDAI to mandate registration for Aadhaar offline verification entities

    UIDAI is set to notify a new rule requiring hotels, event organisers and other entities conducting Aadhaar-based offline verification to register for access to QR code and app-based authentication. The upcoming app aims to enhance privacy, reduce paper use and streamline verification. New Delhi: A new rule to discourage entities like hotels, event organisers, etc, from taking photocopy of Aadhaar cards of customers and storing them in physical form will be published soon, a senior government official said. Such practices are in contravention of the present Aadhaar Act.The Unique Identification Authority of India (UIDAI) CEO Bhuvnesh Kumar told PTI that the authority has approved a new rule mandating registration of entities that seek Aadhaar-based verification like hotels, event organisers, etc, to provide them access to a new technology that will enable them to verify an individual by scanning QR code or connecting with new Aadhaar app in the works, the top…
    BUSINESS

    Coking coal imports rise in Oct on winter restocking, general coal shipments decline

    In October, overall coal imports fell 3.9% due to surplus domestic supply, while coking coal imports rose 12% driven by winter restocking. Government initiatives like the Coking Coal Mission aim to boost domestic production and reduce reliance on imports New Delhi: Coal imports in October saw a mixed trend with general coal shipments declining while coking coal imports rose. The fall in overall coal imports was on account of availability of surplus coal in the domestic market. Coking coal shipments increased 12 per cent to 5.04 million tonnes (MT) during the month over 4.50 MT a year earlier, driven primarily by winter restocking activities by steel mills. Coking coal is a critical raw material used in steel production. Overall coal imports in October dropped 3.9 per cent to 20.97 MT over 21.84 MT in the year-ago period, according to B2B e-commerce platform mjunction services ltd. According to industry experts, steel manufacturers…
    BUSINESS

    Mcap of five of top-10 most-valued firms surges Rs 72,285 cr; TCS, Infosys biggest winners

    Five of India’s top-10 most valued firms, led by TCS and Infosys, added over ₹72,284 crore in market value last week, while Reliance, HDFC Bank, SBI, L&T and LIC saw declines. TCS gained the most, adding nearly Rs 36,000 crore New Delhi: The combined market valuation of five of the top-10 most valued firms surged by Rs 72,284.74 crore last week, with Tata Consultancy Services (TCS) and Infosys emerging as the biggest winners. While Bharti Airtel, TCS, ICICI Bank, Infosys and Bajaj Finance were the gainers, Reliance Industries, HDFC Bank, State Bank of India, Larsen & Toubro, and Life Insurance Corporation of India (LIC) faced erosion from their valuation. Last week, the BSE benchmark eked out a marginal gain of 5.7 points, while the NSE Nifty dipped 16.5 points. TCS added Rs 35,909.52 crore, taking its market valuation to Rs 11,71,862.37 crore. The market capitalisation (mcap) of Infosys jumped Rs 23,404.55…

    BUSINESS

    • Jun- 2025 -
      1 June
      205

      Trump to double steel tariffs to 50 pc from next week

      The US President later posted on social media that the higher tariff rate would take effect on June 4 Washington: US President Donald Trump has said that he planned to double tariffs on foreign imports of steel to 50 percent starting next week, further casting a cloud on steelmakers around the globe. “We are going to be imposing a 25 per cent increase. We’re going to bring it from 25 per cent to 50 per cent– the tariffs on steel into the United States of America — which will even further secure the steel industry in the United States,” Trump said on X social media platform. He later posted on social media that the higher tariff rate would take effect on…

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    • 1 June
      182

      India’s Q4 GDP slows to 7.4 per cent, annual growth at four-year low of 6.5 per cent in FY25

      The size of the Indian economy rose to Rs 330.68 lakh crore or about USD 3.9 trillion, according to government data New Delhi: India’s economic growth slowed to 7.4 per cent in the January-March period, and pulled down the annual growth rate for 2024-25 to a four-year low of 6.5 per cent, mainly due to the manufacturing sector, official data showed on Friday. The size of the Indian economy rose to Rs 330.68 lakh crore or about USD 3.9 trillion and set the stage for achieving the USD 5 trillion target in the next few years. In the previous 2023-24 fiscal year, the economy grew 9.2 per cent. China has registered an economic growth of 5.4 per cent in the first three months…

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    • 1 June
      200

      Excel utility for ITR-1, ITR-4 now available. Taxpayers can start filing income tax returns

      The ITR-1 and ITR-4 forms are filed by individuals, HUFs and entities with total income up to Rs 50 lakh a year and who do not have to get their accounts audited New Delhi: The Income Tax department on Friday said it has made available the excel utility for ITR-1 and ITR-4 for AY 2025-26, which will enable taxpayers to file their income tax returns. “The Excel Utility for ITR-1 and ITR-4 for AY 2025-26 has been enabled and is now available for taxpayers,” the Income Tax department said in a post on X. With the enabling of these utilities, taxpayers can start filing their ITRs for income earned in 2024-25. The last date to file income tax returns in ITR-1 and ITR-4 has been…

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    • 1 June
      201

      Kotak Securities slashes Ola Electric’s target price by 40 per cent

      Kotak Securities slashed price target on Ola Electric by 40 per cent to Rs 30 from Rs 50, citing continued losses and rising competition New Delhi: Kotak Securities on Friday slashed price target on Ola Electric by 40 per cent to Rs 30 from Rs 50, citing continued losses and rising competition. Ola Electric Mobility shares nosedived 9.7 per cent to their intraday low of Rs 48.07 on the BSE during the trade after the electric two-wheeler maker reported a sharp rise in losses for the March quarter. Kotak Securities flagged two main concerns. It expects EBIDTA losses to continue, driven by weakening brand equity and intensified competitive pressure. Second, Kotak highlighted that Ola Electric’s future depends on scaling up volumes…

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    • 1 June
      203

      Myntra creates over 20,000 employment opportunities

      Fashion and lifestyle e-commerce platform Myntra created over 20,000 gig jobs to meet expected demand surge during annual sale New Delhi: Fashion and lifestyle e-commerce platform Myntra on Friday said it has created over 20,000 employment opportunities through its partners to cater to the expected surge in demand during its 22nd edition of the End of Reason Sale (EORS) beginning on Saturday. The new roles will support logistics, customer service, and last-mile delivery operations to meet the expected surge in demand. The hiring includes approximately 4,500 delivery partners and 1,000 customer service agents. Around 22 per cent of the new warehouse workforce are women, fulfilling roles such as sorting, grading and packing across the fulfilment centres in Bengaluru, Mumbai, Kolkata and Delhi, according to a company…

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    • 1 June
      205

      IndiGo to start direct flights to 10 international destinations, including London, Athens

      IndiGo will start direct flights to a total of 10 international destinations, including London and Athens, other destinations include Amsterdam (the Netherlands), Manchester (the UK), Copenhagen (Denmark), Siem Reap (Cambodia) and four places in Central Asia New Delhi: IndiGo will start direct flights to a total of 10 international destinations, including London and Athens, in the current financial year, its CEO Pieter Elbers said on Friday. Other destinations include Amsterdam (the Netherlands), Manchester (the UK), Copenhagen (Denmark), Siem Reap (Cambodia) and four places in Central Asia. There is an enormous opportunity in Indian aviation where rising demand is supported by infrastructure expansion, Elbers said at a briefing in the national capital. IndiGo will start operating direct flights from Mumbai to Manchester…

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    • May- 2025 -
      31 May
      200

      CCPA issues guidelines to regulate walkie-talkie sales on e-commerce sites

      The new framework aims to check the sale of walkie-talkies without proper frequency disclosure, licensing information, or Equipment Type Approval (ETA) — practices that violate the Consumer Protection Act, 2019 New Delhi: The Central Consumer Protection Authority (CCPA) on Friday released comprehensive guidelines to prevent the illegal listing and sale of radio equipment, including walkie-talkies, on e-commerce platforms. The new framework aims to check the sale of walkie-talkies without proper frequency disclosure, licensing information, or Equipment Type Approval (ETA) — practices that violate the Consumer Protection Act, 2019. The guidelines were developed after extensive inter-ministerial consultations with the Department of Telecommunications (DoT) and the Ministry of Home Affairs (MHA). Key regulatory and security considerations from both departments have been incorporated to…

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    • 31 May
      214

      SEBI bars actor Arshad Warsi, wife Maria Goretti and 57 others from markets for up to 5 years

      The regulator imposed a fine of Rs 5 lakh each on Warsi and his wife, Maria. The decision came in a case related to misleading videos on YouTube channels recommending investors to buy shares of Sadhana Broadcast Mumbai: Markets regulator the Securities and Exchange Board of India (SEBI) on Thursday barred Bollywood actor Arshad Warsi, his wife Maria Goretti, and 57 others from the securities markets for periods ranging from 1-5 years. The regulator imposed a fine of Rs 5 lakh each on Warsi and his wife, Maria. The decision came in a case related to misleading videos on YouTube channels recommending investors to buy shares of Sadhana Broadcast. SEBI found that Arshad Warsi had made a profit of Rs 41.70…

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    • 31 May
      170

      Suzlon Energy shares surge nearly 14 per cent after Q4 earnings

      The stock jumped 13.57 per cent to Rs 74.30 on both the BSE and NSE. The Suzlon Energy’s market valuation surged by Rs 8,981.06 crore to Rs 98,271.98 crore in morning trade New Delhi: Shares of Suzlon Energy on Friday surged nearly 14 per cent after the firm reported a nearly fivefold jump in consolidated net profit for the March quarter. The stock jumped 13.57 per cent to Rs 74.30 on both the BSE and NSE. The company’s market valuation surged by Rs 8,981.06 crore to Rs 98,271.98 crore in morning trade. Suzlon Energy on Thursday reported a nearly fivefold jump in consolidated net profit to Rs 1,181 crore for the March quarter, mainly on the back of higher revenues. The…

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    • 31 May
      209

      Ola Electric shares drop nearly 10 per cent post-announcement of Q4 earnings

      Ola Electric reported a consolidated net loss of Rs 870 crore in the fourth quarter ended March 2025, while noting that it is targeting profitability in the current fiscal New Delhi: Shares of Ola Electric on Friday dropped nearly 10 per cent after the firm reported a consolidated net loss of Rs 870 crore in the fourth quarter ended March 31, 2025. The stock tanked 9.71 per cent to Rs 48.07 on the BSE. At the NSE, it tumbled 9.72 per cent to Rs 48.06. Ola Electric on Thursday reported a consolidated net loss of Rs 870 crore in the fourth quarter ended March 2025, while noting that it is targeting profitability in the current fiscal. The company had reported a…

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